Industry News by Nemesis

ALROSA Holds Third Polished Diamond Auction In Israel

ALROSA held an auction of polished diamonds in Israel from November 4-13, with companies from Israel, the US, Belgium, Hong Kong, India and Russia were among the participants.

The company presented colorless polished diamonds ranging in size from 5 carats, fancy colored stones over 1 carat, as well as polished diamonds of 0.3-0.99-ct category in batches completed by color.

In total, ALROSA sold about 370 carats of polished diamonds for $2.9 million. Of these, 314 carats accrued to colored stones, mostly large (more than 40 fancy colored polished diamonds over 5 carats with a total weight of 215 carats).

"Most companies in the Israeli market showed a strong interest in acquiring large polished diamonds over 3 carats," said Pavel Vinikhin, Director of the DIAMONDS ALROSA cutting division. "Therefore, we relied on such stones. This time we presented 94 large diamonds, both colored and colorless. As can be seen from the results of the auction, large fancy colored stones were in the greatest success. We also formed jewelry sets of regular and fancy color diamonds. In general, this market remains very promising for us, as the sales results showed."

The auction event is the third polished diamond sale by ALROSA in Israel this year. Previously, the company earned more than $4.7 million from the sale of 841 carats of polished diamonds.